It is reported that mining entrepreneur Mr Michael Kiernan has come out in support of BHP Billiton's bid for Rio Tinto.

Mr Kiernan said that a combined BHP and Rio would create more stability in international commodity prices, rather than pushing them higher. He said "For BHP it will maintain their dominant position, not to control, or monopolies, but to be able to influence orderly commodity pricing for iron ore and coal.”

Mr Kiernan said that "Kloppers and his outfit are looking at the stability of BHP for the next 10 or 20 years."